Karls Comeback is an article in the National Post today, written by Martin Masse, discussing an unintended alliance between the left-wing Keynes economists and the right-wing Friedman economists coming together to destroy the free market and fulfill Karl Marx's 5th proposal to centralize production within the state, the "centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly."
Masse provides strong support for the Austrian economists in the article, citing Friedrich Hayek when he wrote in 1932, "Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion. ... To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about ...".
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12 comments:
Bullshit.
After the proletariat takes over.
The proletariat is far from taking over.
This is therefore just a scare piece written to scare the far right and libertarians.
Meh. I think it has significance.
That's because you are ignorant. The Federalists have always been for this sort of shit, stretching back to the early days of the formation of the constitution. The "Democrats" are the heirs to what was once the "federalist" party. It has NOTHING to do with Karl Marx.
1792:
"To what physical, moral, or political energy shall this flourishing state of things be ascribed? There is but one answer to these inquiries: Public credit is restored and ESTABLISHED. The general government, by uniting and calling into action the pecuniary resources of the states, has created a new capital stock of several millions of dollars, which, with that before existing, is directed into every branch of business, giving life and vigor to industry in its infinitely diversified operations. The enemies of the general government, the funding act and the National Bank may bellow tyranny, aristocracy, and speculators through the Union and repeat the clamorous din as long as they please; but the actual state of agriculture and commerce, the peace, the contentment and satisfaction of the great mass of people, give the lie to their assertions."
-Federalist newspaper, anonymous.
Thankfully Jefferson wasn't a federalist.
I'll take that as you conceding the point.
I think it was me saying I could care less about what federalists think.
That's fine and dandy, but the point I was driving at was that the OP assertion that the bailout equals the return of Marx is complete rubbish.
Not that I'm a scholar when it comes to Marx, but I think the author is just pointing out that we are naturally fulfilling one of his predictions, even if we don't mean to.
Again, no. The proletariat is definitely not taking over. The bailout is basically the federalists asserting their power.
But the federalists are using the proletariat's tax dollars right?
Indeed, but they are also using everyone's tax dollars. And, as we have already agreed, they have been paid off by corporate America, so, there is no surprise that they voted like they did. Couple that with the fact that some of them are truly afraid of the economy crashing, hence hurting one of their constitutents, the working, and the fact that the federalism/small state debate permeates both modern parties and you a very complex result. Just look at how both parties voted!
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